Through four funding cycles, the SWIFT program has committed $6.2 billion to fund recommended water management strategy projects listed in the Texas State Water Plan. The program features low-interest loans, extended payment terms, deferral of loan repayments, and incremental repurchase terms for projects with state ownership aspects.

Eligible applicants include political subdivisions and nonprofit water supply corporations with eligible projects for recommended water management strategies listed in the Texas State Water Plan, including rural and agricultural entities. Eligible projects include conservation and reuse, desalinization, new pipelines, developing reservoirs and well fields, and other water supply projects. Total funding capacity of the 2019 cycle will be determined in the spring.